Brilliant stuff Alex. Very refreshing to read those things articulated clearly, both the structural crisis points and consequences and a somewhat clear agenda for future "healing". That is still throughly missed in western societies ( I am based in Europe, many here know about all this stuff as well, but is it not articulated enough clearly in public discussion, in media etc.), and I agree that some stuff is worse in the US, some in Europe, but in the end, similar solutions will be needed to reach the other side in better shape.
For a society that commits itself to the best uses of capital we do a lousy job of capturing the best use of out most important form of capital - human capital.
Our education system is in shambles. Our teachers and administrators are so worried about the demands of "No Child Left Behind" that we no longer produce well educated adulis. College students who can barely read or apply simple math to simple problems. Highschool graduates who were sent into the world propelled by social promotion rather than marketable skills.
How many brilliant minds are lost to the intellectual ghettos of the inner city or the hopeless lack of opportunity in small towns deserted by the manufacturers that offered decent wages. The urban and rural poor all face the lack of opportunity that extinguishes progress.
We have so many problems in this country we need every mind applied to their solution.
One of our greatest strengths is our diversity of perspective and experience. We have sullied "Diversity" and a quasi system of quotas which destroys it benefits.
Problems are solved by applying creative thought to vexing challenges. Creativity comes from applying experience to problems in new ways. The more divergent experiences we bring to the problem solving table the better chance we have of devising the best possible solution. This is the value of diversity.
Until we embrace the value of different perspectives and experience we will not achieve our potential.
someday when I have an intern or it's a full time thing, until then I try to put the links in to the hard to find stuff. pretty much everything else you can just put in reverse google image search, that's how I found a bunch from memory
Brilliant, and sadly it really just falls under the heading of advanced common sense. Even sadder is we will probably get to a lot of these tax policies eventually, but not until we go through a lot of needless (or maybe necessary) economic suffering and its aftermath.
Love the 100% inheritance tax above the exclusion - turned into checks. And the step up should apply to owner/operator private businesses only, not real estate or stocks. Imagine how loosened up real estate gets if you have to sell it to pay 100% inheritance tax!
Lastly, IRAs have to be distributed (thus taxed) at death. 100%- no stretches. And eliminate this silly back door Roth IRA. I wonder how much dynastic wealth is tied up in those Peter Thiel…
Please run for President on this platform.
Brilliant stuff Alex. Very refreshing to read those things articulated clearly, both the structural crisis points and consequences and a somewhat clear agenda for future "healing". That is still throughly missed in western societies ( I am based in Europe, many here know about all this stuff as well, but is it not articulated enough clearly in public discussion, in media etc.), and I agree that some stuff is worse in the US, some in Europe, but in the end, similar solutions will be needed to reach the other side in better shape.
For a society that commits itself to the best uses of capital we do a lousy job of capturing the best use of out most important form of capital - human capital.
Our education system is in shambles. Our teachers and administrators are so worried about the demands of "No Child Left Behind" that we no longer produce well educated adulis. College students who can barely read or apply simple math to simple problems. Highschool graduates who were sent into the world propelled by social promotion rather than marketable skills.
How many brilliant minds are lost to the intellectual ghettos of the inner city or the hopeless lack of opportunity in small towns deserted by the manufacturers that offered decent wages. The urban and rural poor all face the lack of opportunity that extinguishes progress.
We have so many problems in this country we need every mind applied to their solution.
One of our greatest strengths is our diversity of perspective and experience. We have sullied "Diversity" and a quasi system of quotas which destroys it benefits.
Problems are solved by applying creative thought to vexing challenges. Creativity comes from applying experience to problems in new ways. The more divergent experiences we bring to the problem solving table the better chance we have of devising the best possible solution. This is the value of diversity.
Until we embrace the value of different perspectives and experience we will not achieve our potential.
Great article as usual alex. Do you mind including the sources to your charts/pictures?
someday when I have an intern or it's a full time thing, until then I try to put the links in to the hard to find stuff. pretty much everything else you can just put in reverse google image search, that's how I found a bunch from memory
Thanks!
Meanwhile, can someone apply for internship with alex?!
Brilliant, and sadly it really just falls under the heading of advanced common sense. Even sadder is we will probably get to a lot of these tax policies eventually, but not until we go through a lot of needless (or maybe necessary) economic suffering and its aftermath.
Love the 100% inheritance tax above the exclusion - turned into checks. And the step up should apply to owner/operator private businesses only, not real estate or stocks. Imagine how loosened up real estate gets if you have to sell it to pay 100% inheritance tax!
Lastly, IRAs have to be distributed (thus taxed) at death. 100%- no stretches. And eliminate this silly back door Roth IRA. I wonder how much dynastic wealth is tied up in those Peter Thiel…
Been arguing for a consumption tax for a long time. Exempt food and clothing and VAT on almost everything else.
One thing you didn't mention is ending federal and corporation tax loopholes and dramatically simply the tax code.
Finally its time we started to look at military spending and cut it....